Forms of Business Organizations Quiz
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Questions and Answers

Which business form has the advantage of limited liability for its shareholders?

  • Sole Proprietorship
  • Limited Partnership
  • Corporation (correct)
  • General Partnership
  • In which business form are the profits taxed directly as income to the sole proprietor?

  • General Partnership
  • Corporation
  • Limited Partnership
  • Sole Proprietorship (correct)
  • Which business form allows the owner to retain all the profits?

  • Sole Proprietorship (correct)
  • Limited Partnership
  • General Partnership
  • Corporation
  • Which business form has a structure where one partner has managerial/operational control over the business and another partner's liability is limited to their capital contributions?

    <p>Limited Partnership</p> Signup and view all the answers

    In which business form is the personal liability for all business debts/obligations a disadvantage?

    <p>Sole Proprietorship</p> Signup and view all the answers

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